Summary by Futu AI
GoDaddy reported strong financial results for Q3 2024, with total revenue increasing 7.3% year-over-year to $1,147.6 million. Net income surged 45.4% to $190.5 million, while operating income rose 51.9% to $253.8 million. The company's Applications and Commerce segment saw significant growth, with revenue up 16.5% and Segment EBITDA increasing 26.1%.Total bookings grew 9.0% to $1,241.7 million, driven by continued customer adoption of productivity solutions and related add-ons, as well as strong performance in domains and website-building products. The Core segment revenue increased by 2.6%, primarily due to 7.1% growth in domain registration and add-on revenues, partially offset by a decrease in hosting revenues.GoDaddy's financial position remains robust, with net cash provided by operating activities increasing 26.1% to $355.2 million. The company's focus on cost optimization and strategic initiatives, including cloud migration and refinancing of term loans, has contributed to improved profitability. Looking ahead, GoDaddy expects continued growth in its Applications and Commerce segment and stable performance in its Core business.
